The State of Florida Department of Business and Professional Regulation (FDBPR) requires the Florida Yacht and Ship Broker or Salesperson Surety Bond for any entity wishing to obtain a Yacht and Ship Broker or Salesperson License.
What are the requirements in order to get a Yacht and Ship Broker or Salesperson License?
According to the state of Florida, a yacht and ship broker or salesperson is someone who performs the services of buying and/or selling previously owned yachts on behalf of another person for compensation. The term “yacht” is defined as any vessel in the water which is propelled by sail or machinery, exceeds 32 feet in length, and weighs less than 300 gross tons. All yacht and ship brokers or salespeople must obtain a license.
In order to obtain a license, the applicant must submit the following requirements to the FDBPR Division of Florida Condominiums, Timeshares, and Mobile Homes:
- A completed application
- A $551 application fee
- A complete set of fingerprints
- An original Florida Yacht and Ship Broker or Salesperson Surety Bond in the amount of $10,000 for a salesperson’s license or $25,000 for a broker’s license
More information regarding these licensing requirements and processes can be found on the FDBPR website.
What is the purpose of a Florida Yacht and Ship Broker or Salesperson Surety Bond?
Surety Bonds act as a form of financial guarantee to the clients and license regulators of the licensee. If a client is financially harmed from the unethical or illegal operation of the license holder (in this case the yacht and ship broker or salesperson), they can make a claim on their surety bond. If settled, the surety company (the company that issued the bond) would pay out the claim, however the bond principal (the licensee/broker or salesperson) must repay the surety for any losses incurred.
Where can I get a Florida Yacht and Ship Broker or Salesperson Surety Bond?
In order to obtain this bond, simply fill out our free online application! One of our licensed agents will contact you within one business day with a quote for the price to obtain your bond (the “premium”). If you choose to move forward after receiving your quote, we will have you sign any necessary paperwork and remit the premium payment, at which time we will ship your surety bond to you via USPS Priority Mail (with overnight shipping options also available).
Why choose Surety1?
At Surety1, our agents work with over a dozen “A” rated surety markets to ensure we are finding you the lowest price for your bond. We’ve been issuing surety bonds since 2003 and our quality, reliable service has led us to an A+ rating by the Better Business Bureau! Licensed in all 50 states.